The Commerce department has the housing starts data. "The pace of U.S. housing starts fell less than expected last month. Builders broke ground on new homes at an annual rate of 2.12 million in February, down 7.9 percent from January's revised 2.303 million, the Commerce Department said. Building permits, a sign of future construction, fell 3.2 percent to an annual rate of 2.145 million."

"Builders kept up the momentum in February after unusually mild January temperatures let them get an early start on the construction season. Housing starts probably will slow later this year as mortgage rates and selling prices put new homes out of the reach of more would-be buyers."

"'Housing starts are still on a rising trend despite all this talk about housing cooling off,' (economist) Kevin Logan. 'With a lag we should see housing starts fade. The second quarter will really tell the tale.'"

"Economists expected starts to fall to a 2.03 million rate in February from the prior month's originally reported 2.276 million, according to a survey. Permits were forecast to fall to a 2.11 million pace, from 2.217 million. Starts fell in three of four regions. Starts fell 23.5% in the U.S. Northeast, biggest drop since May 2001. Construction declined 11.2% in the South and 10.4% in the Midwest, but rose 7.9% in the West."

"The number of homes under construction rose 0.6 percent last month to 1.428 million, the most since February 1974." "As home sales decline, price increases will slow, said Ara Hovnanian, CEO of Hovnanian Enterprises Inc., the ninth biggest U.S. homebuilder by stock market value. 'I think it's very likely we're going to see a leveling off or at least a slowing in the appreciation rate,' Hovnanian said. 'Our view is it's going to be a very soft landing,' for housing. The housing market accounted for 55 percent of economic growth last year, according to a Merrill Lynch & Co. report released last month."